Greenbriar completes new investment in leading tech-enabled, multi-service parking and hospitality solutions provider
GREENWICH, CT AND PLYMOUTH MEETING, PA – June 30, 2023 – Greenbriar Equity Group, L.P. (“Greenbriar”), announced that funds managed by Greenbriar completed an acquisition of Towne Park (“Towne Park” or the “Company”), a leading parking and hospitality solutions provider, from TA Associates (“TA”). Financial terms of the private transaction were not disclosed.
Towne Park was founded in 1988 and provides a comprehensive suite of parking, mobility and hospitality solutions to premier hotels, healthcare institutions and residential properties nationwide. Supported by more than 11,000 team members, Towne Park is focused on delivering exceptional experiences from arrival through departure and is a trusted partner to more of the country’s top hotels and prominent healthcare systems than any other provider.
“We are excited to partner with Greenbriar as we enter this next phase of Towne Park’s growth and success,” said Andrew Kerin, CEO of Towne Park. “Our values and approach are very much aligned, and we have a collective commitment to enhancing the Company’s capabilities and client solutions to accelerate our growth and provide greater opportunities for our team members. We look forward to working together and benefitting from Greenbriar’s significant expertise and successful track-record in expanding and scaling tech-enabled service platforms like Towne Park.”
The acquisition by Greenbriar will support the senior management team’s expansion plans, with a focus on both organic and acquisition opportunities that will widen the Company’s national presence and broaden its service offerings for clients.
Michael Weiss, Managing Partner at Greenbriar, said “Towne Park is an exceptional business with a long and successful track record supporting leading clients within its core end markets. We have been impressed by the Company’s customer-centric approach, deep operational capabilities, and industry-leading technology and service platform. We are looking forward to partnering with Andrew and the management team to support the Company through its next stage of growth.”
Moelis & Company and Goodwin Procter acted as financial advisor and legal advisor, respectively, to TA and Towne Park. Kirkland & Ellis LLP served as legal counsel to Greenbriar.
About Towne Park
Towne Park is the leading tech-enabled, multi-service parking and hospitality solutions provider serving premier hotels, healthcare institutions and residential properties nationwide. Supported by more than 11,000 team members, Towne Park is the only company with a comprehensive suite of parking, mobility and hospitality solutions focused on delivering exceptional experiences from arrival through departure. For 35 years, Towne Park has been committed to providing the best team, the best service and the best solutions that drive revenue and enhance our clients’ brands creating smiles with the millions of guests, patients and visitors we proudly serve. For more information, visit www.townepark.com.
Greenbriar is a middle market private equity firm with more than 20 years of experience investing in market-leading services and manufacturing businesses. With more than $8 billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit greenbriarequity.com.